Bunkering joint venture TFG Marine — backed by John Fredriksen and Trafigura — is teaming up with a Singapore fuelling giant on bunker tanker newbuildings.
TFG announced a deal with Consort Bunkers on Monday to build and charter out four 6,500-dwt methanol carriage-ready vessels.
The first of the ships will be ready later this year. They will be built at China Merchants Jinling Shipyard.
“This agreement is part of TFG Marine’s ongoing efforts to renew our fleet with modern, mass flow meter-equipped bunker barges that are ready to carry the low-carbon fuels that will help shipping decarbonise,” TFG global head of bunkering Kenneth Dam said.
“We see a multi-fuel future for our industry, with methanol, biofuels, ammonia and more all having a role to play alongside traditional marine fuels in meeting the goals of the Paris Agreement.”
From delivery, the vessels will be able to supply any of TFG’s current fuelling options, including high-sulphur fuel oil, very low-sulphur fuel oil, marine gasoil and biofuels up to B100 plus any grade of liquid methanol down the line.
“With the Maritime & Port Authority of Singapore set to introduce a methanol bunkering licensing framework in the near future, we are supporting TFG Marine’s goal to take a leading role in providing low-carbon fuels to international shipping companies in this global bunkering hub,” Consort general manager SK Yeo said.
TFG was started in 2020 in a three-way joint venture between Trafigura and Fredriksen’s shipowning outfits Frontline and Golden Ocean.
It operates out of 35 hubs globally.
The newbuilding quartet follows on TFG’s deal with Fratelli Cosulich Group in January, which saw the Italian owner build an 8,000-dwt vessel backed by a charter to the joint venture.
TFG followed that deal up with the acquisition of Spanish bunker supplier Vilma Oil.
Then, Dam said the acquisition allowed TFG to expand into the western Mediterranean Sea, accomplishing a long-held ambition.
